Trade Tariffs: What's really in play?

Published: May 14, 2019, 11:38 a.m.

b"617. That was the total point loss for the Dow Jones yesterday amid an escalating trade war with China. Hours after Beijing announced another round of increased tariffs on US goods, President Trump told reporters China has been taking advantage of the US for many years. Mr. Trump said he plans to meet with Chinese President Xi Jinping and Russia's Vladimir Putin at the upcoming G-20 summit in Osaka, Japan. What does all this mean for you, I and most importantly, the farmer? CBS News' Senior Business Analyst Jill Schlesinger takes a look with Tony."